Singapore Tech Engineering rated 'buy' by Phillip Securities

Stock Name: ST Engg
Company Name: SINGAPORE TECH ENGINEERING LTD
Research House: Phillip Securities

Phillip Securities Research in a Feb 16 research report says: "Revenue increased by 7.9% to $5.98 billion and would have been c.$30 million higher if adjusted to account for unfavorable forex (weakening of the € and US$). There is a significant change to the depreciation policy for the Group that contributed to a 9.8% increase in gross profit.

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